Users created 9,861 new self-custodial wallets inside AmazeWallet in preparation for the imminent launch of Group Mining.
Group Mining is a new AmazeWallet feature that lets users pool their AMT tokens to launch a blockchain mining node together. Users who help decentralize our AmazeChain network, a Layer 1 blockchain, receive crypto rewards in return for their work.
Mining through AmazeWallet uses an average of 1-2% phone battery per day, and the equivalent data of a six minute video call per month, to validate transactions and mine our blockchain.
In the week leading up to the official announcement that we’re launching Group Mining, users opened a record-breaking 9,861 new self-custodial wallets. As the AmazeWallet community prepares to take advantage of the rewards on offer, here’s a quick reminder of how to start Group Mining.
How to join AmazeWallet Group Mining
How to start Group Mining on AmazeWallet:
- Open AmazeWallet. Make sure the app is updated to at least v.1.0.04.
- Get AMT. You need anywhere between 1-49 AMT to join a group. You can swap AMT for USDT through AmazeWallet. Or you can trade for it at CoinStore or BitMart.
- Go to Node tab along the bottom menu.
- Tap on Group Mining.
- View list of groups to join or create your own.
- If you create your own, you’ll need to choose a name, a group icon and an initial amount that you want to contribute. Make sure to share the group with your community so it fills up quickly.
- If you join an existing group, you’ll need to choose how much you want to contribute to it. Once you’ve locked in your AMT, share the group with your community so it fills up quickly.
- When you’ve done this, the launch will be pending until the group has locked in 50 AMT. Once it’s done, your node will start mining and you’ll start building crypto rewards!
You can start Group Mining from anywhere between 1 AMT and 49 AMT. You’ll need to lock in your AMT tokens for 1 month, 3 months or 6 months. Once your lock-in period ends, you will get back the full amount of AMT you contributed to the group. And of course, you’ll get your daily rewards for being an AmazeWallet miner.
Pre-register for AmazeWallet Group Mining now* and get notified by email when the feature launches during next week (beginning 14 August). Then all you need to do is join or start a Mining Group, open your AmazeWallet app to validate transactions, and start building up your crypto.
*Pre-registering is not a KYC process.